Mynaric Secures Early Disbursement of Restructuring Loans Amid StaRUG Delays

Mynaric AG announced it will receive an early partial disbursement of up to USD 10.5 million from its USD 25 million restructuring facility. The move addresses delays in the company's StaRUG proceedings. Initially announced in February 2025, Mynaric began restructuring in line with Germany's Corporate Stabilization and Restructuring Act. The restructuring facility situates Mynaric to manage capital needs and maintain operations.

The early loan approval, offered by U.S. lenders CO FINANCE II LVS I LLC and OC III LVS LIII LP, is integral to Mynaric’s operational strategy. This comes as the court has set a meeting for May 28, 2025, with proceedings concluding later this year. The company anticipates full availability of these funds by May 12, 2025.

Mynaric has agreed to maintain business operations within agreed parameters until the restructuring plan finalizes. Additional restrictive covenants were accepted, underscoring the importance of these disbursed funds.